UUÂãÁÄÖ±²¥

How do I opt to tax and notify HMRC?

There are technically two stages to opting to tax:

1. •

   the business makes the decision to opt (keeping a clear written record)

2. •

   the business notifies HMRC of its decision to opt to tax

VATA 1994, Sch 10, Pt 1, paras 18–20; Notice 742A, para 4.1; VATLP22360

The decision to opt will often be made at a board meeting or similar with the written record being minutes of the board meeting which clearly stipulate what is to be covered by the option (more details on the coverage